2,276 Shares in GE Vernova Inc. $GEV Bought by Western Financial Corp CA

Key Points

• Western Financial Corp CA acquired 2,276 shares of GE Vernova Inc. in Q2, worth approximately $1.2 million, contributing to a growing interest from institutional investors in the company.
• Analysts have upgraded GE Vernova's stock with an average price target of $592.35, highlighting a mix of buy and hold ratings across various firms.
• The company reported a net revenue of $9.11 billion for the last quarter, exceeding expectations and indicating an 11.1% increase year-over-year.

Western Financial Corp CA purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,276 shares of the company's stock, valued at approximately $1,204,000.

Several other hedge funds also recently made changes to their positions in the company. US Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth $277,000. Diversified Enterprises LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $288,000. Cahaba Wealth Management Inc. purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $203,000. Ascent Capital Management LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $330,000. Finally, West Branch Capital LLC increased its holdings in shares of GE Vernova by 25.6% in the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a report on Monday, September 15th. Barclays increased their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a "buy" rating in a report on Monday, September 15th. Finally, HSBC increased their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Stock Down 0.4%

Shares of GEV stock opened at $605.21 on Friday. The stock has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a price-to-earnings-growth ratio of 4.43 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The firm's 50 day moving average price is $622.99 and its two-hundred day moving average price is $488.82.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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